The Toronto Raptors announced Wednesday they have signed guard DeMar DeRozan to a multi-year contract extension. Several reports say the deal is for four years and around $40 million. We’ll update that info later tonight if needed.

“DeMar has worked very hard and has been a significant part of the building process here in Toronto,” said Raptors President and General Manager Bryan Colangelo. “We view DeMar as a young, athletic and talented basketball player whose character fits what we are putting together.”